NasdaqGS:CHMG

Stock Analysis Report

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Executive Summary

Chemung Financial Corporation operates as the holding company for Chemung Canal Trust Company that provides a range of banking, financing, fiduciary, and other financial services. More Details


Snowflake Analysis

Flawless balance sheet established dividend payer.


Similar Companies

Share Price & News

How has Chemung Financial's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CHMG is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: CHMG's weekly volatility (6%) has been stable over the past year.


Market Performance


7 Day Return

-0.2%

CHMG

-0.3%

US Banks

0.7%

US Market


1 Year Return

-22.1%

CHMG

-16.2%

US Banks

22.2%

US Market

Return vs Industry: CHMG underperformed the US Banks industry which returned -16.6% over the past year.

Return vs Market: CHMG underperformed the US Market which returned 22.7% over the past year.


Shareholder returns

CHMGIndustryMarket
7 Day-0.2%-0.3%0.7%
30 Day2.2%20.3%11.8%
90 Day11.0%19.7%8.6%
1 Year-19.3%-22.1%-13.1%-16.2%25.0%22.2%
3 Year-26.1%-31.9%-3.8%-11.8%49.4%39.5%
5 Year42.5%23.3%42.5%24.8%100.2%78.1%

Long-Term Price Volatility Vs. Market

How volatile is Chemung Financial's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Chemung Financial undervalued compared to its fair value and its price relative to the market?

40.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CHMG ($34.34) is trading below our estimate of fair value ($58.03)

Significantly Below Fair Value: CHMG is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CHMG is good value based on its PE Ratio (9.1x) compared to the US Banks industry average (11.3x).

PE vs Market: CHMG is good value based on its PE Ratio (9.1x) compared to the US market (19.4x).


Price to Earnings Growth Ratio

PEG Ratio: CHMG's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: CHMG's PB Ratio (0.8x) is in line with the US Banks industry average.


Next Steps

Future Growth

How is Chemung Financial forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

-4.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CHMG's earnings are forecast to decline over the next 3 years (-4.4% per year).

Earnings vs Market: CHMG's earnings are forecast to decline over the next 3 years (-4.4% per year).

High Growth Earnings: CHMG's earnings are forecast to decline over the next 3 years.

Revenue vs Market: CHMG's revenue (2.3% per year) is forecast to grow slower than the US market (10.2% per year).

High Growth Revenue: CHMG's revenue (2.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CHMG's Return on Equity is forecast to be low in 3 years time (8%).


Next Steps

Past Performance

How has Chemung Financial performed over the past 5 years?

14.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CHMG has high quality earnings.

Growing Profit Margin: CHMG's current net profit margins (23.5%) are higher than last year (22.9%).


Past Earnings Growth Analysis

Earnings Trend: CHMG's earnings have grown by 14.3% per year over the past 5 years.

Accelerating Growth: CHMG's earnings growth over the past year (6.5%) is below its 5-year average (14.3% per year).

Earnings vs Industry: CHMG earnings growth over the past year (6.5%) exceeded the Banks industry -4.1%.


Return on Equity

High ROE: CHMG's Return on Equity (9.3%) is considered low.


Next Steps

Financial Health

How is Chemung Financial's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: CHMG's Assets to Equity ratio (11x) is moderate.

Allowance for Bad Loans: CHMG has a sufficient allowance for bad loans (156%).

Low Risk Liabilities: 98% of CHMG's liabilities are made up of primarily low risk sources of funding.

Loan Level: CHMG has an appropriate level of Loans to Assets ratio (70%).

Low Risk Deposits: CHMG's Loans to Deposits ratio (79%) is appropriate.

Level of Bad Loans: CHMG has an appropriate level of bad loans (1%).


Next Steps

Dividend

What is Chemung Financial current dividend yield, its reliability and sustainability?

3.03%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: CHMG's dividend (3.03%) is higher than the bottom 25% of dividend payers in the US market (1.48%).

High Dividend: CHMG's dividend (3.03%) is low compared to the top 25% of dividend payers in the US market (4.14%).


Stability and Growth of Payments

Stable Dividend: CHMG's dividends per share have been stable in the past 10 years.

Growing Dividend: CHMG's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (27.6%), CHMG's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CHMG's dividends in 3 years are forecast to be well covered by earnings (29.4% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.9yrs

Average management tenure


CEO

Anders Tomson (53 yo)

4yrs

Tenure

US$854,923

Compensation

Mr. Anders M. Tomson has been the Chief Executive Officer and Director of Chemung Canal Trust Company and Chemung Financial Corporation since December 22, 2016. Mr. Tomson has been the President of Chemung...


CEO Compensation Analysis

Compensation vs Market: Anders's total compensation ($USD854.92K) is about average for companies of similar size in the US market ($USD1.14M).

Compensation vs Earnings: Anders's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Anders Tomson
President4yrsUS$854.92k0.74%
$ 1.2m
Karl Krebs
CFO, Executive VP & Treasurer7.17yrsUS$450.43k0.24%
$ 379.5k
Loren Cole
Executive VP & Chief Information Officer3.58yrsUS$346.35k0.11%
$ 176.0k
Louis Difabio
Executive Vice President of Business Client Servicesno dataUS$483.82k0.56%
$ 870.9k
Kathleen McKillip
Assistant VP & Corporate Secretaryno datano datano data
Pamela Burns
Senior Vice President of Human Resourcesno datano datano data
Norman Ward
SVP, Chief Auditor & Senior Investment Officerno datano datano data
Thomas Wirth
Executive Vice President of Wealth Management Group5.92yrsUS$315.34k0.39%
$ 607.3k
Catherine Crandall
Senior Vice President of WMG Estate Administrationno datano datano data
Robert Pichette
Senior Vice President of Commercial Lendingno datano datano data
Kimberly Hazelton
Executive Vice President of Retail Client Services Group4.92yrsno data0.068%
$ 107.1k
Marianne Kalec
Senior Vice President of Retail Lendingno datano datano data

4.9yrs

Average Tenure

54yo

Average Age

Experienced Management: CHMG's management team is considered experienced (4.9 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Anders Tomson
President4yrsUS$854.92k0.74%
$ 1.2m
Ronald Bentley
Director13.75yrsUS$63.51k1.08%
$ 1.7m
David Dalrymple
Independent Chairman of the Board27.92yrsUS$87.16k8.07%
$ 12.7m
Robert Dalrymple
Independent Director25.92yrsUS$57.62k5.34%
$ 8.4m
Stephen Lounsberry
Independent Director25.92yrsUS$56.04k0.36%
$ 572.0k
Richard Swan
Independent Director36.92yrsUS$52.02k1.55%
$ 2.4m
David Buicko
Independent Director2.75yrsUS$53.38k0.076%
$ 118.7k
Larry Becker
Independent Director9.58yrsUS$51.25k0.80%
$ 1.2m
Denise Gonick
Independent Director2.75yrsUS$42.95k0.041%
$ 63.6k
Thomas Tyrrell
Independent Director6.83yrsUS$48.36k0.12%
$ 194.4k
G. Tranter
Independent Director6.83yrsUS$55.28k0.51%
$ 794.5k
Jeffrey Streeter
Independent Director2.75yrsUS$44.52k0.12%
$ 182.5k

8.2yrs

Average Tenure

66.5yo

Average Age

Experienced Board: CHMG's board of directors are considered experienced (8.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: CHMG insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Chemung Financial Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Chemung Financial Corporation
  • Ticker: CHMG
  • Exchange: NasdaqGS
  • Founded: 1833
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$156.843m
  • Shares outstanding: 4.66m
  • Website: https://www.chemungcanal.com

Number of Employees


Location

  • Chemung Financial Corporation
  • One Chemung Canal Plaza
  • Elmira
  • New York
  • 14901
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CHMGNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDJan 1975

Biography

Chemung Financial Corporation operates as the holding company for Chemung Canal Trust Company that provides a range of banking, financing, fiduciary, and other financial services. The company provides dema...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/12/02 23:11
End of Day Share Price2020/12/02 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.